QXO, Inc. $QXO Shares Acquired by Archon Partners LLC

Archon Partners LLC increased its position in shares of QXO, Inc. (NYSE:QXO) by 20.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,000 shares of the company’s stock after purchasing an additional 90,000 shares during the period. QXO makes up approximately 1.3% of Archon Partners LLC’s portfolio, making the stock its 27th largest position. Archon Partners LLC owned about 0.09% of QXO worth $11,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in QXO by 91.0% during the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after purchasing an additional 22,484,977 shares during the period. Alpha Wave Global LP purchased a new stake in shares of QXO in the second quarter valued at approximately $525,366,000. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new stake in shares of QXO in the first quarter valued at approximately $118,142,000. Hood River Capital Management LLC acquired a new position in QXO during the second quarter worth $178,836,000. Finally, Geode Capital Management LLC raised its position in QXO by 218.4% in the second quarter. Geode Capital Management LLC now owns 8,246,989 shares of the company’s stock worth $177,670,000 after acquiring an additional 5,656,452 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on QXO. Raymond James Financial started coverage on shares of QXO in a research report on Friday, September 5th. They set an “outperform” rating and a $28.00 target price on the stock. Zacks Research cut shares of QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Monday, December 1st. Benchmark raised shares of QXO to a “strong-buy” rating in a report on Monday, August 25th. Finally, KeyCorp set a $28.00 price target on shares of QXO in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and a consensus price target of $32.85.

QXO Price Performance

Shares of NYSE:QXO opened at $20.96 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The business’s fifty day moving average price is $18.50 and its two-hundred day moving average price is $19.76. The stock has a market cap of $14.13 billion, a PE ratio of -47.63, a price-to-earnings-growth ratio of 3.24 and a beta of 2.42. QXO, Inc. has a one year low of $11.85 and a one year high of $24.69.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.QXO’s quarterly revenue was up 20726.7% compared to the same quarter last year. On average, analysts forecast that QXO, Inc. will post -0.13 EPS for the current fiscal year.

QXO Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.